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Emergency Economic Measures for COVID-19

Emergency Economic Measures for COVID-19

The Cabinet decided the ‘Emergency Economic Measures for COVID-19’ on 7 April 2020 and announced the details on the website of the Cabinet Office on the same day.

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The ‘Emergency Economic Measures for COVID-19’ proposes various measures based on five pillars due to the spread of the coronavirus infection (I. Establishment of measures to prevent the spread of coronavirus infection and the system for providing medical care, and development of remedies for coronavirus, II. Maintenance of employment and continuation of business, III. Recovery of the economic activities by public and private sectors as next steps, IV. Construction of a strong economic structure and V. Preparation for the future). New tax measures are also proposed in ‘5. Tax Measures’ of ‘II. Maintenance of employment and continuation of business’.

We have set out in this e-Tax News the outline of new tax measures proposed in the ‘Emergency Economic Measures for COVID-19’.

KPMG Japan e-Tax News No.191

e-Tax News

© 2020 KPMG AZSA LLC, a limited liability audit corporation incorporated under the Japanese Certified Public Accountants Law and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. © 2020 KPMG Tax Corporation, a tax corporation incorporated under the Japanese CPTA Law and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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